SCHEDULES
SCHEDULE 14Gifts to the nation
PART 2Income tax and capital gains tax
8Gifts set aside etc
If a qualifying gift is set aside or declared void after it is made—
a
the portion of N’s tax liability for each relevant tax year that is treated as satisfied ceases to be treated as satisfied,
b
the effect described in paragraph 6 is negated, and
c
N is required to pay the portion due for each relevant tax year, together with any late payment interest and late payment penalties in respect of it, by the later of—
i
the end of the period of 30 days beginning with the day on which the gift was set aside or declared void, and
ii
the day by which N would have been required to pay those amounts but for this Schedule.